Handbook : Unit informationEdith Cowan University

School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

• Unit Title

  Accounting I

• Unit Code

  ACC1100

• Year

  2017

• Enrolment Period

  2

• Version

  1

• Credit Points

  15

• Full Year Unit

  N

• Mode of Delivery

  On Campus
  Online

• Unit Coordinator

  Ms Michele Ann SCHODER

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Description

Accounting I is an introductory unit designed to help students understand, prepare and use financial statements, including statements of financial position, comprehensive income, changes in equity and cash flows. The unit covers a range of financial and managerial accounting concepts with an appropriate mix of theory and application. Completion of the unit will equip students with effective problem solving and critical thinking skills when relevant accounting concepts and knowledge are applied to interpret and analyse financial performances of an entity.

Learning Outcomes

On completion of this unit students should be able to:

1. Analyse, process, record, and present financial accounting information in a manual format.
2. Apply cost behaviour analysis for managerial accounting applications.
3. Prepare an analysis and interpretation of financial statements at an introductory level.
4. State the basic differences between financial and managerial accounting.
5. State the concepts, assumptions, principles, and characteristics of conventional financial reporting systems and the role they play in assisting in the preparation of financial reports.

Unit Content

1. The underlying concepts, principles, and characteristics of financial reporting systems
2. The full accounting cycle that includes recording of business transactions, preparing balance day adjustments and completing with closing entries
3. The preparation of financial statements
4. The analysis and interpretation of financial reports using ratio techniques
5. Accounting for inventory
6. Accounting for non-current assets including concept and calculation of depreciation
7. Planning and control of costs and cost behavior by applying cost-volume-profit analysis
   
   

Additional Learning Experience Information

On-campus students are expected to participate actively in weekly lecture and tutorial sessions. Lectures are designed to provide an overview of accounting topics and highlight the application of key concepts. Tutorial sessions enhance students' understanding of accounting knowledge through in-class discussions on practical problems. These discussions engage students in team working, task collaboration and provide students with opportunities to work and communicate effectively with people from diverse cultures.

Students studying the unit on an online mode work through a study program with resources available via Blackboard. Regular online access is required. Students are expected to review the weekly unit materials and attempt assigned questions from each topic. Active participation through Blackboard discussions enhances collaborative learning among peers.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

Core Reading(s)

• Carlon, S., McAlpine-Mladenovic, R., Palm, C., Mitrione, L., Kirk, N., & L., W. (2016). Financial accounting : reporting, analysis and decision making (5th ed.). Milton Qld: John Wiley & Sons.

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